SVETX

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SVETX - Silicon Valley Entrepreneurs Tokens Exchange

Welcome to the first in the world personal tokens exchange where you can trade your own currency for other people's skills, virtual assets and personal tokens. Uniquely, to participate in SVETX you don't have to own a dollar worth of liquid crypto-currencies or fiat. All SVETX transactions can be made in your own newly issued money.

SVETX is primarily aimed at fledgling entrepreneurs, who can issue their own tokens, which will be used as personal promissory notes, to compensate early skilled contributers to their projects such as coders, designers or marketers. However, everybody, who want to bootstrap their own for-profit projects of various sizes (from a book or a new fitness iOS application to an art gallery or a grocery shop) but for a variety of reasons haven't been able to rise investments may also use SVETX to attract people's talents as well as their attention to it.

Note that SVETX doesn't allow you at the start to rise other crypto-currencies or fiat - only others people personal tokens, which you can use to increase people's awareness about your project or trade them for various skills necessary to implement your project into the real life. However, your personal tokens might with time became sufficiently popular among users to be included into the list of tokens which are exchangeable on SVETX to liquid currencies. To achieve that you have to extend the circulation of your personal tokens by actively trading with other users and purchasing their virtual assets. Also your PTBS must show the strong growth tendency without mushrooming Liabilities.

At the same time, we believe that to issue your own token on SVETX for a single limited purpose of kick-starting a project is not the most effective way to use SVETX to its full potential. With us you can do much better that that. You, literally, can make yourself a name in the growing crypto-universe, establish and maintain your own, unique financial identity, which will help you not only with your current projects, but will keep growing with time making all of your future business endeavors, social plans and life ambitions easy and faster to achieve. In short you are invited to look at SVETX as the first brick laid into the foundation of your personal financial future in the XXI century digital Epoch.

Disclaimer

Note that although on SVETX under some circumstances you might exchange your personal tokens to liquid crypto-currencies or fiat the exchange rate will always stay the same. Another saying, your currency must be a stable-coin pegged to USD (or to its token equivalent listed on SVETX) in the ratio 1:1 ever. If your personal token (or coin) has already been listed on other exchanges and is not a stable token you can not list this token on SVETX. Also if your token happens to became so popular that after some time you have decided to list your personal token on other exchanges where it stops to be a stable-token it will be delisted from SVETX. No tokens are allowed on SVETX except personal stable-tokens.

Additionally, if you are an owner/ shareholder of one or several companies your personal tokens can not represent your enterprise's shares.

Note also that SVETX under no circumstances can ask you to provide a complete statement of your digital wealth. Neither SVETX can bear a responsibility for an accuracy of data provided by its users. Which information you might choose to list on SVETX is your voluntary decision only and you have to take it only if do you understand that all of your data submitted to SVETX will not be kept confidential. Moreover, the main goal of SVETX is to make your digital financial state known to as many people as possible in order to increase the liquidity of your tokens.

How does SVETX work?

SVETX consists of three shards: the first one is for preparing and validating your Personal Tokens Balance Sheet; the second is for posting your accounting transactions and keeping track of your personal tokens; the third is the open market place for trading personal tokens and virtual assets.

How to issue and use your own token on SVETX platform?

STEP 1: Prepare your Personal Tokens Balance Sheet (PTBS).

STEP 2: Audit PTBS.

STEP 3: Issue Your Personal Token (YPT).

STEP 4: Trade YPT and other users tokens.

STEP 5: Trade your's and other users' virtual assets.

STEP 6: Make a transactions.

STEP 1:

Please, prepare your personal tokens balance sheet (in USD) by filling in the following form. Each of the assets listed there must be confirmed by the html link of the corresponding virtual asset or (in case of crypto-currencies) of your account address. Project Receivables accounts are to be confirmed by submitting projects' detailed financial projections. This information, prior to be posted in blockchain, is to be verified by the SVETX validators (see the Step 2).

NOTE: it is absolutely not required to list all of your digital assets and/or crypto-currencies. You may even choose to list non of those. You might, however, want to include into your PTBS as many of your digital assets as possible if you aim to maximize the number and the value of tokens you intend to generate.

Validation processes are always time and resources consuming. However validators are absolutely necessary to ensure that all of the SVETX users share the same version of all SVETX individual accounts' (and, consequently, PTBS') states. In SVETX 3% of all participants act as validators. Validators are selected among SVETX participants with largest PTBS. Each validator is voted on the elections where every SVETX user has one vote. Elections are held every 3 month and all of its participants are rewarded by SVET tokens, which are exchangeable to all other users tokens. There's also a compensatory mechanism in place for all SVETX validators, who have to validate 3 other users' transactions for every one of their own. Additionally, each validator has to stack a certain amount of his/ her own token, which will be "stanched" if a validator is found to consciously violate the SVETX validation rules. An individual validator is paid by SVETX tokens only if his/her decision regarding each an every of validated by him/her transactions corresponds to the opinion of at least 33% of all validators, validating the same transactions.

You might change your personal tokens balance sheet at any moment after issuing your first token by posting one or several transactions to PTBS. However, to amend the state of your accounts at SVETX you would have to pass a new validation process.

After you are allowed to issue your first tokens on SVETX your Virtual Balance Sheet will have to include all new information concerning the status and the value of your virtual assets (such as change of ownership and decrease/ increase in the value). If you are reported to knowingly break those rules multiple times your tokens will be delisted and your account closed.

Project Receivables (Please, note that you have to include under this Balance Sheet section only your personal (not that of a company) profits from those projects after all deductions including taxes. It includes your salary as a project company employee, your dividends as a project shareholder and expecting proceeds from selling those shares)

Project name:
Project earning:

Other digital Assets (something, which you haven't included in the previous categories):

STEP 2:

After completing your first PTBS as well as each time you make a transaction which amends PTBS state you have to submit it to the new validation. It is to be paid by your own tokens (after you're allowed to issue them on SVETX). If your PTBS (or your transactions) hasn't been validated you don't have to pay but you're not allowed to issue tokens on SVETX until you're validated .

Please, re-check the information you have filled in and click "Validate" if you want it to be validated.

STEP 5:

Accounts Receivable

Here you have to trade (by placing smart contracts on SVETX) your virtual digital assets, which you are willing to exchange to your own tokens purchased by other people.

Although exchanging your own tokens to your own assets might look like the useless act to you personally (and you can refuse to list any of your virtual assets because of that) you have to remind yourself, however, that your newly issued currency might have no meaning to other people unless those people can exchange it to something valuable. In return you will receive a possibility to trade people's own tokens to people's own assets.

Note that SVETX users prior to purchase your tokens will be encouraged to check out both your PTBS and your Accounts Receivable.

All that said you still might issue your own token (f.e. as a collectable) even if you can't (or do not want to) back it up by any exchangeable assets at all. For that you can use the Intangible Assets section of the PTBS (f.e. your brand name). However, in that case, you have to exclusively relay on your name popularity among SVET users to assure your tokens liquidity.

STEP 6:

In order to make a transaction on your personal account in SVETX you have to first decide whether it is a plus or minus transaction.

Plus transactions increase your PTBS while minus ones - decrease. Each transactions are made in two accounts: one on the Assets side - the other on either Liabilities or Equities sides depending on the nature of this transaction. Plus transactions increase Assets side but decrease Liabilities or Equities sides, minuses - vice versa. Accordingly each Equities' transaction will decrease or increase the amount of YPT in circulation on SVETX.

Each new transaction can be permanently posted to SVETX only after its validation.